Kan Tan IV moves to Pateke-4H

Posted on 5 February 2014

The Kan Tan IV semi-submersible drilling rig has finished its deployment in the Matuku prospect in PEP 51906 and been handed over to the Tui joint venture in PMP 38158.

Pateke-4H is a northern extension of the existing Pateke reservoir in the producing Tui area oil fields, approximately 50km off the coast of Taranaki, New Zealand, in water depth of about 124 metres.

The operator has advised that the rig was handed over this morning and is moving into position for drilling.

The Pateke-4H well will be drilled to a planned total measured depth of 5,361 metres, including a 1,271 metre horizontal section.

The operator estimates that, if the Pateke-4H well is successful, it could increase recovery from the Tui oil fields by approximately 2.5 million barrels of oil. If successful the well will be completed and later tied back to the existing Tui FPSO vessel, Umuroa.

In October last year New Zealand Oil & Gas more than doubled its interest in the field, from 12.5 per cent to 27.5 per cent. The other Tui joint venture partners are: AWE Limited 57.5%
(Operator); and Pan Pacific Petroleum 15%.

New Zealand Oil & gas has an interest in each of Matuku and Pateke, but the joint ventures are different. Participants in the Matuku-1 well in PEP 51906 were OMV New Zealand (Operator) 65 per cent; Octanex 22.5 per cent; and New Zealand Oil & Gas 12.5 per cent.

Attachment: News Release